Boeing 747-8JK Intercontinental N6067E (msn 38636) PAE (Nick Dean) (first flight), originally uploaded by Airliners Gallery.
The Boeing Company (Chicago) today reported first-quarter net income of $600 million, or $0.78 per share, on revenue of $14.9 billion. According to the company, operating margin of 6.7 percent reflects strong core performance across the company’s businesses on expected lower volumes and higher pension expense.
Boeing Commercial Airplanes first-quarter revenue decreased by 5 percent to $7.1 billion on planned lower 777 deliveries. Operating margin was 7.2 percent, reflecting the lower deliveries and higher R&D (Table 4).
Flight testing on the 787 program continued during the quarter, surpassing 3,500 hours on 1,250 flights. First delivery is expected in the third quarter of 2011. Total firm orders for the 787 at quarter-end were 835 airplanes from 56 customers.
The 747-8 program flight test also progressed during the quarter, surpassing 2,500 hours on 900 flights. First flight of the 747-8 Intercontinental was achieved in March. Delivery of the first 747-8 Freighter is planned for mid-2011.
Commercial Airplanes booked 153 gross orders during the quarter while 47 orders were removed from its order book, bringing net orders to 106, up from the year-ago period when net orders were 83 airplanes. Backlog remains strong with over 3,400 airplanes valued at $263 billion.
Copyright Photo: Nick Dean. Please click on the photo for additional information.